And John Sampson White, curator of the National Gem and Mineral Collection at the Smithsonian Institution, dismissed the find as 'insignificant':

Moreover, court records revealed that two lawsuits had been filed against Whetstine and Ward a few years earlier for inflating the value of stones. Ward, the jewelry store owner who had issued the $2.28 million appraisal, had been kicked out of the American Gem Society over complaints that he had inflated appraisals. Whetstine announced plans to sell his bargain gem in uncutįorm for $1.5 million, putting the proceeds into a trust for his two sons.īut by a few months later, the wheels had fallen off his ride to the land of riches.įollow-up news stories disclosed that Lawrence A. Whetstine and his fabulous find became overnight celebrities, their story featured in such popular media outlets as network news segments, People magazine, the New York Times, and Joan Rivers' talk show. Nine months later, after he had the stone appraised, certified, and insured, Roy Whetstine announced to the world what he had bought: a whopping 1,905-carat star sapphire, the largest such stone ever found (over 700 carats larger than the previous record-holder, the Black Star of Queensland), appraised at a cool $2.28 million. Bargaining the seller (who thought the stone was a lavender-colored agate) down from his $15 asking price, Whetstine hurriedly purchased the rock for a mere $10. This favorite form of financial fantasy seemingly played out for real in February 1986, when Texas gemstone broker Roy Whetstine came across a potato-sized rock in the bin of an exhibitor at the Tucson Gem and Mineral Sale. Value - perhaps an old, short-printed baseball card turned up at a garage sale, a collectible record offered for sale via eBay, a rare coin discovered in a jar of otherwise unremarkable change, or perhaps even a valuable painting tucked away in a dusty curio shop. Origins: One of the top 'get rich quick' daydreams involves a lucky buyer who stumbles across something offered for a relatively low price by a seller who doesn't realize its true Claim: Rock purchased for $10 proves to be a valuable star sapphire.

Natural star sapphire